The UK Chancellor announces Bounce Back Loans scheme to help SMBs - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

The Bounce Back Loans scheme is intended to speed up distribution of coronavirus aid to SMBs — but alt lenders are concerned they won't be accredited in time

FinTech Futures. The fast-track finance scheme will allow lenders to extend loans with a 100% government-backed guarantee.Loans will be between £2,000 and £50,000 and interest-free for the first 12 months; businesses can apply online through a short form and access the cash within days. The scheme aims to bolster the existing package of support available, including the Coronavirus Business Interruption Loan Scheme , by letting SMBs get access to the finance they need immediately.

Many in the industry are concerned that not enough alt lenders will be accredited to help facilitate the government loans — a disappointing repeat of the CBILS rollout. To date, only

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

You’re not reading this by accident. This is your confirmation. Everything is going to be alright.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coronavirus: UK ambassador to US backs investigation into origin - Business InsiderDame Karen Pierce said on Wednesday there 'definitely needs to be some sort of review or investigation.' Blame shifting. Since when did China govern either country? MinPres 2 governments, both with a piss-poor response to the CoronaVirus, trying to shift blame. Not gonna work. Everyone knows what they did and, more importantly, what they didn't do!
Source: BusinessInsider - 🏆 729. / 51 Read more »